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The Saudi Tourism Authority (STA) and Visa have signed a Memorandum of Understanding (MoU) to enhance the tourist journey and boost tourism in Saudi Arabia at the recent Arabian Tourism Market 2023.
As part of the MOU, Visa and STA will explore the establishment of a Travel Data Lab that will provide data-driven insights on travel and tourism trends, enabling the Saudi Tourism Authority, Visa and industry stakeholders to make informed The decision supports the Saudi government’s tourism goals, Walter Lironi, senior vice president and head of Visa Consulting and Analytics for Central, Eastern Europe, Middle East and Africa (CEMEA), said in an interview.
Through this MOU, Visa and STA will also aim to introduce Visa’s digital payment solutions and exclusive customized packages for Visa cardholders and tourists visiting Saudi Arabia in the Middle East and African markets. He said the package for hassle-free payments and value transactions will be discussed and finalized through consultations with relevant authorities.
Excerpt from the interview:
What was the reasoning behind the idea of ​​the Travel Data Lab? What role does Visa play in the program?
The strategic partnership will be powered by VisaNet, Visa’s payments database, which provides extensive data on inbound travel and insights into how governments and authorities can optimize their digital strategies. This will enable the Saudi Tourism Authority to enhance its capabilities by providing, exchanging and analyzing data as well as offering product and promotional package programs to improve the experience of tourists and attract more segments of key markets in the region. With our extensive payments database, the world’s largest and most representative, we can track a visitor’s journey from pre-arrival to departure and gain valuable insights.
Insights generated from the data include (to name a few) different categories of visitor journeys and spending behavior, seasonality, digital adoption, and customer type, providing a comprehensive understanding of how to create a customer-centric payment experience. We can also provide benchmarks with other tourism-competitive countries in the Middle East and Africa.
Can you share some of your latest insights into travel and tourism trends and dynamics that Visa has observed?
Last month, our Visa Business and Economist Insights team released Global Travel Insights, and I wanted to share some very interesting and encouraging data, especially for the Saudi market. (Visa Global Travel Insight March 2023 | Visa).
First, I want to emphasize that, as the earliest and hardest-hit sector of the economy, tourism is finally fully recovering. Additionally, we are seeing travel preferences shift post-pandemic, while destinations are being reshuffled. The pandemic has rearranged the popularity of travel destinations. For example, Mecca, which reopened earlier and benefited from a government boost to tourism, has risen from 44th in 2019 to the 13th most visited city. Cities in Europe and the Middle East reopened earlier, and travel infrastructure is already in place to make travel easier. This opens up new opportunities.
How does Saudi Arabia fare on the global/regional map?
For example, if we look at the insights for Riyadh, we see a 167% recovery in total arrivals in 2022. That’s beyond a full recovery, and we’re seeing growth compared to 2019. In Medina, the recovery rate was 192%.
Saudi Arabia is rapidly emerging as a tourism hub, offering visitors a diverse and enriching experience. The industry is also a key pillar in the realization of Saudi Vision 2030, which aims to diversify the economy and create new jobs.
The Saudi Tourism System offers competitive facilities, services, support and financing, where an advanced digital infrastructure helps accelerate growth and success and empowers partners.
Finally, Saudi Arabia is known for its natural and cultural richness and its diverse destinations: coasts, beaches, islands, natural and historical areas, and various events held throughout the year. – trade arab news agency
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